Oil and gas contracts in South America registered an increase of 8% in Q2 2022 with 64 contracts, when compared with 59 contracts in the previous quarter, according to GlobalData’s oil and gas contracts database.
The activity marked a decrease of 10%, when compared with the last four-quarter average of 71 contracts.
Contract award activity in South America during Q2 2022
Looking at contracts by country, Brazil led the activity in Q2 2022 with 44 contracts and a 69% share of all the oil and gas contracts in the region, followed by Argentina and Guyana with five contracts and an 8% share each. It saw an increase of 29% over the previous quarter’s 34 contracts and a flat growth when compared with the last four-quarter-average of 44 contracts in Brazil.
Based on five-quarter moving average, Brazil took the top spot with 44 contracts, followed by Guyana and Colombia with seven and five contracts, respectively.
South America’s oil and gas contracts by segment in Q2 2022
Looking at oil and gas contracts by segment in South America, upstream segment contributed the most in terms of the contracts awarded, with 52 contracts in Q2 2022, followed by midstream and downstream with eight and three contracts, respectively.
Contracts by scope of work in South America during Q2 2022
During that quarter, the majority of the contracts awarded were in the procurement space with 24 contracts, followed by operations & maintenance and design & engineering with 23 and 21 contracts, respectively.
All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.
More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.